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3.26.2012

A Solution to Online Accounting For Small Businesses in The US

Outright.com is a free online accounting resources, targeted at small business owners in the US. As someone who has created accounting software for businesses in Ghana, I thought it would be interesting to explore and overall I believe it's a great product for small businesses looking for a free alternative. Below is a more detailed breakdown of the Pros and Cons.

Pros

The product is simple to navigate and of course free. It also estimates the appropriate US Income tax rates

Cons

The product does not have details on state level taxes, which may be a bit problematic. It's also a bit restrictive in the sense that categories can't be modified and invoices from other software programs cannot be used.

An interesting recent addition by outright.com is on it's blog. Outright's Blog recently created a really informative infographic on US tax forms. This infographic in particular focuses on the 1099-K form.